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Pastimes : The New Qualcomm - write what you like thread. -- Ignore unavailable to you. Want to Upgrade?

To: Ruffian who wrote (669)	10/18/1999 6:22:00 AM
From: qdog	Read Replies (2) \| Respond to of 12252

I invest using the Ferret Game, which is based on old fashion value and not voodoo momentum investing, mystifying acronym overhyping or requires a really cute cheerleader outfit, complete with painted faces and big hair. I don't have crystal balls, Ouija boards or throw darts very well to compete with the beautiful people at Mutual Funds or brokerage houses. Alot of people like to quote Lynch or Buffet in rationalizing a stock, but what they seem to miss is they invest in stocks that have reasonable value with good management and growth potential. Would I buy QCOM on a dip? Depends on the dip, but I'm more interested in looking for good companies who's stock is undervalued. Not a popular belief for the moment, but like all markets, one that has stood the test of time through many "New Paragims". Realize that I invested in QCOM when it was undervalued, under appreciated, under followed, but still had the underlining dynamics that has driven it's value through the roof in a short period of time. IF the stock were to lose 50% of it's present value, would I buy it? More than likely, but at this value, no. The market has alot of great things to it, but it also has its absurdities. Just because the company is popular amongst the investment community, doesn't necessarily make it a compelling value to own or invest in. I rather bought Apple when Jobs was brought back, than to buy it now, although Apple is still reasonably valued. I rather own a Ford, that actually makes gobs of money than some vapor Dot Com company who quarterly earnings are more inline with a small cap or micro cap company. I rather own a Motorola a year ago.....on second thought I would never own Motorola unless it was to take them private and fire every silked suited sales person... than a Microsoft. My animosity aside, Microsoft is not a $400+ billion dollar company. Even their head people think it is overvalued. That is not to say that I don't invest in some of the companies or industries I speak ill of. I did buy ETYS at 35. I did jump all over RHAT the day of the IPO at 42. Do I still own them? I did buy Apple at 17-18, but recently lighten up on my holdings as I have just about everything over the summer. I rather take my chances with a Global Crossing at it's low recently at 25 than with a Amazon.Com that never has reported a profit and problably never will. I'm not saying that eCommerce isn't viable, quite to the contrary. I think that Wal-Mart, Sears and other retailers will leverage their brick and motar to more efficently compete and cost effectively with the dot com's FedEx model. The market is self regulating and elastic. The rubber band is stretched real tight right now, so at some point it will unwind. When or how much, there aren't very many folks that can tell you that, including myself, correctly. I learned long ago, there are other days and other stocks. As I usually do, do your homework and invest in what you believe, based on your convictions. Made me alot of money over the last 29 years. Nothing goes up forever, nor down. The trouble with the market, how long does it stay overvalued and undervalued. Sometimes it short and other times it for an unnecessarily long time. Regardless of what happens this week, there is always oppurtunity for those that do careful, clearheaded thinking.